Date:19/01/2007 URL: http://www.thehindubusinessline.com/2007/01/19/stories/2007011905131700.htm

Back Trianz raises $14 million in equity funding

Our Bureau

To use funds for its expansion plans

Bangalore , Jan. 18

Consulting, technology and outsourcing services firm Trianz has raised $14 million in equity funding from New York Life Investment Management India Fund (FVCI II).

The company plans to utilise the funds to finance its expansion plans both in India and overseas, said Mr Sri Manchala, CEO and President, Trianz.

Trianz is looking to expand its presence by tapping new geographies and service segments in the US, Europe, India and the Asia Pacific region through both organic and inorganic routes. Trianz, which currently has an employee headcount of some 700 people plans to increase its staff strength to between 2500-3000 by 2008, Mr Manchala said.

Trianz, with current revenue of Rs 200 crore, expects to grow above industry average and is targeting revenue of Rs 300 crore in the coming year and Rs 1,000 crore by 2010, he said. Trianz, which aims to emerge as a hybrid consulting, technology and outsourcing services firm, plans to expand its offering to areas such as consumer products, retail and financial services. It currently focuses on high-tech manufacturing and communications.

Mr Srinivas Chidambaram, managing director of Jacob Ballas Capital India Pvt Ltd, an investment advisor to NYLIM India Fund said, "With a strong leadership team, unique approach and strong client relationships, Trianz is a great example of a company poised to grow into a leadership position in global consulting and technology services including product engineering."

By virtue of its investment, Jacob Ballas has become a board member in Trianz. Promoters own a majority stake in the company.

Trianz's clientele includes companies like Hewlett Packard, Cisco, Microsoft, ITC among others. Trianz derives around 60 per cent of its revenues from technology outsourcing while consulting accounts for the rest 40 per cent.